COMPANY REGISTRATION NUMBER: 02766675 CHARITY REGISTRATION NUMBER: 1037631 Talmud Torah Education Limited Company Limited by Guarantee Financial Statements 31 March 2025 BRINDLEY GOLDSTEIN LIMITED Chartered accountants & statutory auditor 103 High street Waltham Cross EN8 7AN
Talmud Torah Education Limited Company Limited by Guarantee Financial Statements Year ended 31 March 2025 Trustees' annual report (incorporating the director's report) Independent auditor's report to the members Statement of financial activities (including income and expenditure account) Statement of financial position Statement of cash flows Notes to the financial statements Page 1 5 10 11 12 13
Talmud Torah Education Limited Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) Year ended 31 March 2025 The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2025. Reference and administrative details Registered charity name Talmud Torah Education Limited Charity registration number 1037631 Company registration number 02766675 Principal office and registered Yetev Lev Boys School office 111-115 Cazenove Road London N16 6AX The trustees Auditor B. Berger S. Cik A. Frankel Brindley Goldstein Limited Chartered accountants & statutory auditor 103 High street Waltham Cross EN8 7AN Structure, governance and management le charity is a company limited by guarantee and is governed by its Memorandum and Articles ssociation dated 17 November 199 Recruitment and appointment of new trustees The power to appoint new trustees is vested in the current board. New trustees are appointed based on personal competence, specialist skills and experience. They are inducted into the working of the charity by the current board and are encouraged to read the Charity Commission's various publications on trustees. 1
Talmud Torah Education Limited Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2025 Objectives and activities The company is established for charitable purposes, its objectives being to advance religion in accordance with the Orthodox Jewish faith and for such other purposes as are recognised by English law as charitable. The company operates a school for boys, which is based in North London and aims to provide its pupils with a sound education of the highest order. Public benefit The directors (trustees) confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activities. The charity's support provides students with access to high-quality education, through good quality of resources, skilled teachers, and a nurturing learning environment. By sending their children to our schools, parents ensure their kids receive a strong educational foundation, which can significantly mprove their future opportunities. The charity's programs not only focus on academic excellence bu also promote personal development and social skills. This comprehensive approach equips student to contribute positively to society and helps break the cycle of disadvantage, offering long-term benefits to both the children and their communities. The following sections for achievements and performance and financial review form the strategic report of the charity. Achievements and performance During the year the school continued to function to the satisfaction of the Trustees. As part of their duties, the Trustees are constantly reviewing the level of services provided, and are prepared to introduce any improvements that are deemed necessary. We have continued our activities and programmes to benefit the students. 2
Talmud Torah Education Limited Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2025 Financial review The school operates on a no-fee basis, ensuring that no child is excluded from education due to financial hardship. Our school is sustained through generous public donations and other fundraising Reserves policy The trustees ensure that the charity has sufficient reserves and pledge to cover minimum commitments over at least the next two months. Financial results As required by the SORP, incoming resources and resources expended show Donations in kind which represents an assessment of what the charity would incur if it were to pay a fair rent for the properties it occupies. Income has decreased to £3,047,419 during the year (2024: £3,201,716) and the charity reports a surplus for the year of £41,658 (2024: Deficit £69,388). The trustees are confident in keeping within budget and will continue to examine ways to increase income as well as achieve savings in costs. Our School is sustained through generous public donations and additional income generated from its activities. We rely on ongoing public donations, which allow us to maintain inclusivity and support access to our services. Trustees' responsibilities statement The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period. In preparing these financial statements, the trustees are required to: • select suitable accounting policies and then apply them consistently; • observe the methods and principles in the applicable Charities SORP; • make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 3
Talmud Torah Education Limited Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2025 The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with th Companies Act 2006. They are also responsible for safeguarding the assets of the charity and henc for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor Each of the persons who is a trustee at the date of approval of this report confirms that: so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees' annual report and the strategic report were approved on 1 December 2025 and signed on behalf of the board of trustees by: S. Cik Trustee
Talmud Torah Education Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Talmud Torah Education Limited Year ended 31 March 2025 Opinion We have audited the financial statements of Talmud Torah Education Limited (the 'charity') for the year ended 31 March 2025 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: •give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; • have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. ased on the work we have performed, we have not identified any material uncertainties relating t events or conditions that, individually or collectively, may cast significant doubt on the charity's abilit to continue as a going concern for a period of at least twelve months from when the financia statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 5
Talmud Torah Education Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Talmud Torah Education Limited (continued) Year ended 31 March 2025 Other information The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. n connection with our audit of the tinancial statements, our responsibility is to read the other nformation and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a naterial misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact We have nothing to report in this regard Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: • the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and • the trustees' report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees' remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit. 6
Talmud Torah Education Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Talmud Torah Education Limited (continued) Year ended 31 March 2025 Responsibilities of trustees As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Identifying and testing journal entries and the overall accounting records, particularly those that were significant and unusual. Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied. Assessing the extent of compliance, or lack of, with relevant laws and regulations Testing key revenue lines, for evidence of management bias. Verification of key assets. Obtaining third-party confirmation of material balances. Documenting and verifying all significant related party balances and transactions. Reviewing documentation such as the company board minutes, correspondence with solicitors, for discussions of irregularities including fraud. 7
Talmud Torah Education Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Talmud Torah Education Limited (continued) Year ended 31 March 2025 As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to raud or error, design and perform audit procedures responsive to those risks, and obtain audi evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of no detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. • Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Talmud Torah Education Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Talmud Torah Education Limited (continued) Year ended 31 March 2025 We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identity during our audit. Use of our report This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed C. H. Goldstein FCA (Senior Statutory Auditor) For and on behalf of Brindley Goldstein Limited Chartered accountants & statutory auditor 103 High street Waltham Cross EN8 7AN 1 December 2025 9
Talmud Torah Education Limited Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2025 2025 Unrestricted funds Total funds Note Income and endowments Donations and legacies Investment income Other income Total income Expenditure Expenditure on raising funds: Costs of other trading activities Expenditure on charitable activities Total expenditure 7 2,612,186 435,233 3,047,419 63,715 2,942,046 3,005,761 Net income/(expenditure) and net movement in funds 41,658 Reconciliation of funds Total funds brought forward Total funds carried forward 408,945 450,603 2,612,186 435.233 3,047,419 63,715 2,942,046 3,005,761 41,658 408,945 450,603 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 2024 Total funds 2,768,635 13 433,068 3,201,716 91,465 3,179,639 3,271,104 (69,388) 478,333 408,945 The notes on pages 13 to 21 form part of these financial statements. 10
Talmud Torah Education Limited Company Limited by Guarantee Statement of Financial Position 31 March 2025 Fixed assets Tangible fixed assets Current assets Cash at bank and in hand Creditors: amounts falling due within one year Net current liabilities Total assets less current liabilities Net assets Funds of the charity Unrestricted funds Total charity funds Note 16 17 19 2025 € 518,296 59,843 127,536 67,693 450,603 450,603 450,603 450,603 2024 555,988 32,088 179,131 147,043 408,945 408,945 408,945 408,945 These financial statements were approved by the board of trustees and authorised for issue on December 2025, and are signed on behalf of the board by lix S. Cik Trustee The notes on pages 13 to 21 form part of these financial statements. 11
Talmud Torah Education Limited Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2025 Cash flows from operating activities Net income/(expenditure) Adjustments for: Depreciation of tangible fixed assets Other interest receivable and similar income Interest payable and similar charges Accrued expenses Changes in: Trade and other debtors Trade and other creditors Cash generated from operations Interest paid Interest received Net cash from operating activities Cash flows from investing activities Purchase of tangible assets Net cash used in investing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 2025 41,658 90,144 145.135 (61.,595) 225,341 (145,134) 80,207 (52,452) (52,452) 27,755 32,088 59,843 The notes on pages 13 to 21 form part of these financial statements. 2024 (69,388) 101,247 (13) 6,124 3,000 1,900 72,79 115,668 (6,124) 13 109,557 (118,853) (118,853) (9,296) 41,384 32,088 12
Talmud Torah Education Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2025 1. General information The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Yetev Lev Boys School, 111-115 Cazenove Road, London, N16 6AX. 2. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. 3. Accounting policies Taxation The charity is exempt from corporation tax on its charitable activities. Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the process of applying the entity's accounting policies no significant judgements or key sources of estimation were made by management that have any significant effect on the amounts recognised in the financial statements. 13
Talmud Torah Education Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 Accounting policies (continued) Fund accounting charity's purposes. Unrestricted funds are available for use at the discretion of the trustees to further any of the Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. Incoming resources All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Resources expended Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Allocation and apportionment of costs Costs are allocated and apportioned to the various categories of expenditure on the following basis: (i) costs that relate solely to one activity are allocated to that activity. (i) costs that relate to more than one activity are split between the activities, based on the estimated usage attributable to each activity. In the case of staff costs the allocation is based on estimated staff time attributed to each activity. (il) costs that are common to all activities are categorised as support costs. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 14
Talmud Torah Education Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 3. Accounting policies (continued) Tangible assets (continued) An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Plant and machinery Fixtures and fittings Motor vehicles Computer Equipment 15% reducing balance 15% reducing balance 25% reducing balance 33% reducing balance Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. 15
Talmud Torah Education Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 3. Accounting policies (continued) Financial instruments (continued) Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in 4. Limited by guarantee Talmud Torah Education Limited is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as may be required, not exceeding £1, to the assets of the charitable company in the event of it being wound up while he or she is a member, or within one year after he or she ceases to be a member. 16
Talmud Torah Education Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 5. Donations and legacies Donations Donations and child care 6. Investment income Unrestricted Total Funds Unrestricted Total Funds Funds € 2025 Funds 2024 2,612,186 2,612,186 2,768,635 2,768,635 Bank interest receivable 7. Other income Unrestined Total Funds Unrestricted Total Funds Funds Funds 2024 = 13 Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 € 435,233 435,233 433,068 433,068 Other income Costs of other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 63,715 € 63,715 91,465 91,465 Costs of other trading activities 9. Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds Funds € 2024 Charitable activities Support costs € 2,040,692 901,354 2,942,046 2,040,692 901,354 2,942,046 2,250,093 2,250,093 929,546 929,546 3,179,639 3,179,639
Talmud Torah Education Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 10. Expenditure on charitable activities by activity type Charitable activities Governance costs Activities undertaken directly 2040,692 2,040,692 Support Total funds costs 890,854 10,500 901,354 2,931,546 10,500 2,942,046 Total fund 2024 3,169,139 10,500 3,179,639 11. Analysis of support costs Analysis of support costs activity 890,854 Total 2025 € 890,854 Total 2024 919,046 Staff costs 12. Net income/(expenditure) Net income/(expenditure) is stated after charging/(crediting): Depreciation of tangible fixed assets 13. Auditors remuneration 2025 90,144 2024 101,247 2025 10,500 2024 10,500 Fees payable for the audit of the financial statements 14. Staff costs The total staff costs and employee benefts for the reporting period are analysed as follows; Wages and salaries 890,854 Social security costs 16,411 Employer contributions to pension plans 126 907,391 919,046 13,535 932,581 18
Talmud Torah Education Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 14. Staff costs (continued) The average head count of employees during the year was 78 (2024: 85). The average number of full-time equivalent employees during the year is analysed as follows: 2025 No. Number of staff - Administration 78 2024 No. 85 No employee received employee benefits of more than £60,000 during the year (2024: Nil). 15. Trustee remuneration and expenses There were no trustees' remuneration or other benefits for the year ended 31 March 2025. There were no trustees' expenses paid for the year ended 31 March 2025. 16. Tangible fixed assets Plant and Fixtures and machinery fittings Motor vehicles Equipment Total Cost At 1 April 2024 Additions At 31 March 2025 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 Carrying amount At 31 March 2025 At 31 March 2024 131,643 1,025,019 22,683 29,769 154,326 1,054,788 40,953 30,132 40,953 1,227,747 52,452 1,280,199 100,794 6,404 107,198 512,144 79,652 591,796 47,128 30,849 462,992 512,875 35,938 1,672 37,610 3,343 5,015 30,132 22,883 2,416 25,299 4,833 7.249 671,759 90,144 761,903 518,296 555,988 17. Creditors: amounts falling due within one year Trade creditors Accruals and deferred income Social security and other taxes Loans Other creditors 2025 102,807 10,500 2,625 3425 127,536 2024 148,541 10,500 2,739 11,179 6,172 179,131 19
Talmud Torah Education Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 18. Pensions and other post retirement benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £126 (2024: £Nil). 19. Analysis of charitable funds Unrestricted funds General funds 1 April 2024 408.945 At 1 April 2023 476,333 At Income Expenditure 31 March 20 3,047,419 (3,005,761) 450,603 At 31 March 20 Income Expenditure 24 3.201.,716 (3271,104) 408,945 General funds 20. Analysis of net assets between funds Tangible fixed assets Current assets Creditors less than 1 year Net assets Tangible fixed assets Current assets Creditors less than 1 year Net assets 21. Analysis of changes in net debt Unrestricted Total Funds Funds 2025 518,296 518,296 59,843 59,843 (127,536) (127,536) 450,603 450,603 Unrestricted Total Funds Funds 2024 555,988 555,988 32,088 32,088 (179,131) (179,131) 408,945 408,945 Cash at bank and in hand At 1 Apr 2024 Cashflows 31 Mar 2025 32,088 27,755 59,843
Talmud Torah Education Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 22. Related parties There were no related party transactions for the year ended 31 March 2025. 21